Excerpt: Check out our related blog – the Innovate Insurance Blog, providing periodic information on innovation in the insurance business
Excerpt: Cyber attacks have dramatically increased during the pandemic according to the FBI. Work from home (WFH) has contributed to vulnerabilities and speculation is that Cyber Risk Insurance claims are climbing and the exposure is evolving.
Unfortunately, healthcare and ransomware go together. Healthcare organizations, particularly medical practices, facilities and specialized healthcare vendors, are prime ransomware targets and should make sure that they have comprehensive Cyber Risk Insurance to obtain the best protection.
Social Engineering Fraud (SEF, also called Wire Transfer Fraud or Business Email Compromise) attacks on SMBs can be crippling, and comprehensive Cyber Risk Insurance is a critical protection. A sophisticated SEF attack against a family recreational facility offers a case study in how devastating an attack can be.
Despite having little confidential information, manufacturers are particularly vulnerable to ransomware attacks. Cyber Risk Insurance is a critical protection for business interruption losses, particularly for SMBs.